According to a recent MasterCard (NYSE: MA) survey, U.S. consumers identified "entering payment, billing and shipping information" as one of the main pain points of the online shopping experience, topped only by not knowing how an item fits or looks in-person.
Almost three-in-five (58 percent) of online shoppers indicated they would prefer one place where their account information can be safely stored and easily accessed to simplify the online check-out experience, no matter where they are shopping online. The MasterCard-commissioned online survey conducted by Harris Interactive included responses from 2,229 adults.
Consumers are becoming more confident in online shopping and more interested in using their mobile devices for online shopping. Several issues, though, are making the online and mobile shopping experience frustrating for consumers, resulting in missed revenue opportunities for merchants and retailers.
Other key findings from the survey include:
Among Americans who shop online, whether from a computer or mobile device, nearly one out of every four acknowledged abandoning their shopping carts at least once a month before completing their purchase; and,
53 percent of U.S. adults with a mobile device say they shop online with their mobile device, but the same group indicated one of the biggest concerns is around security.
"Online and mobile shopping puts a host of new options at consumers' fingertips, but the current checkout process needs improvement to fully realize the potential of these important retail channels," said Geoff Iddison, Group Executive e-Commerce and Mobile, MasterCard Worldwide. "The research shows that consumers want a simpler, faster way to enter account information, so they can spend more time searching for exactly what they want and less time filling out forms at checkout."